But it won't be easy for them, and already we have reports of some retailers leaving the market. The Map of E-Commerce ranks Vietnam's top 50 e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers and number of staff. behaviours. Insights on the fashion industry in Vietnam [market ... Thailand's business-to-consumer e-commerce market has been growing steadily since 2017, and is now worth THB860 billion (US$27.7 billion). The living standards of . Social and M-Commerce contribute to B2C E-Commerce growth The smartphone's role in increased online retail sales in Vietnam is reflected in the numbers of shoppers who make purchases through . The number of social media users in Vietnam increased by 5.7 million (+9.6%) between April 2019 and January 2020. The arrival of COVID-19 caused Vietnamese e-commerce to accelerate in 2020. Vietnam e-commerce market size and trends in 2019 With its 97 million residents and an increasing number of Internet users, Vietnam is attractive for many online retail businesses. Thus, Vietnam has been and is becoming one of the rising markets in the e-commerce industry in Southeast Asia. According to a report, the Vietnam mobile payment market size was valued at $250 billion in 2019, and projected to reach $2,732 billion by 2027, growing at a CAGR of 30.2% from 2020 to 2027. Vietnam e-commerce market size Ecommerce in Vietnam is currently a growing market in Southeast Asia, which has witnessed an impressive expansion . The United States ecommerce market is forecast to reach over $843 billion in 2021, less than a third of China's. After China and the US, the third-largest ecommerce market is the United Kingdom. With such strong business background, Uniqlo is going to penetrate Vietnam's retail market by 2019. 5 critical things to look for in the Vietnam Ecommerce ... Yet, Vietnam and its tourism businesses need to combat an important cultural setback if they want to reap the benefits of the country's entrepreneurial spirit and grow tourism in quality as well as in quantity. According to experts, trade volume via e-commerce reached $4.07 billion in 2015, hit $5.1 billion in 2016 and $6.2 billion last year. Consumer electronics is the largest product category in e-commerce by value sales, supported by young . In 2018, the size of the e-commerce market for consumers in Japan will increase by 8.96% year on year to ¥ 17,984.5 . Vietnam: e-commerce market value 2020 | Statista Vietnam was one of the very few countries with an economy that grew in 2020 - by 2.9%. The outlook for Vietnam's information and communication technology (ICT) market is strong at an average growth rate of 8 per cent during 2016 to 2020. Indeed, the rise of e-commerce and digital retail channels in Vietnam is one of the top trends to watch: by 2025, Vietnam's e-commerce market size is expected to be second only to Indonesia in the Southeast Asia region. The post-COVID-19 era — when digital consumption has become a new way of life and digital merchants continue to rise — has most certainly positively impacted the size of the country's e-commerce market. Social and M-Commerce contribute to B2C E-Commerce growth. Cosmetics Design Asia. Experiencing a rapid growth in the tourism industry, Vietnam could become a regional leader in the coming years. In 2012, the National Assembly passed the Law on Advertisement to prohibit the advertisement of BMS for children under 24 months old, complementary foods for children under six months old, and feeding bottles and pacifiers. Internet Economy Market Size, in USD billion, by Categories, incl. For instance, according to the Vietnam e-commerce and Digital Economy Agency (IDEA), the Vietnamese e-commerce market is expected to reach $23 billion by 2025. behaviours. the World Bank expects their economy to continue to grow in 2021 by 6.6%, however, the number of households reporting a drop . As online shopping thrives in Vietnam, the e-commerce landscape is evolving quickly. E-commerce penetration in the retail sector could triple in the next few years as the pandemic pushes brands to go online and cross-border sales increase, says JD Central, an e-commerce joint . There were 65.00 million social media users in Vietnam in January 2020. 20 April 2020. High economic growth, increasing domestic manufacturing, the rise in consumption, and booming e-commerce are some of the key drivers of the Vietnamese freight and logistics market. Japan E-Commerce Market. The UK's total ecommerce sales are expected to bring in $169 billion, which is a slight dip from $180 billion in 2020. The great potential of Vietnam's e-commerce sector can be seen via its enormous expansion, which is predicted to reach US$15 billion in terms of revenue in 2020.31 If the e-commerce market can . Internet Economy Market Size, in USD billion, by Categories, incl. The Deodorants in Vietnam report includes: Analysis of key supply-side and demand trends. Shopee has become the leading Vietnam e-commerce market player, followed by Lazada and Tiki. Historic volume and value sizes, company and brand market shares. Vietnam is currently working on a new e-commerce policy to ensure that Vietnamese customers are covered under consumer rights laws. • Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and . Vietnam. E-Commerce, Online Media, Online Travel, Transport & Food, 2015, 2019, 2020e & 2025f . B2C E-Commerce Market Overview . The forecasted market size of e-commerce logistics for 2020 was at 268.8 . Social media users in Vietnam. 6 The average online spend per person is significantly higher in Thailand than in other south-east Asian countries included in our report. The iMUSE yoghurt & lemon flavoured drink contains lactococcus lactis strain plasma which the firm claims to have immune functionality to fight infectious disease in the country. 4 E-commerce is an effective channel for Australian exporters to enter the ASEAN market or grow their existing footprint. Looking ahead, this growth is expected to continue at a compound annual growth rate (CAGR) of 15.1 percent to 2023. A study found that Vietnam's e-commerce market is likely to reach US$15 billion by 2025, up from 2.8 billion in 2018. Robust and transparent research methodology, conducted in-country. Travel is the most popular merchant segment, accounting for 44 percent of sales in 2019. VIETNAM RETAIL SECTOR Market research report provides a in-depth study of industry plyers, market growth, size, share, challenges, standardization, deployment models, trends and cost structure . Vietnam personal care market jumps by double-digits". Statista puts the number of Vietnamese ecommerce shoppers even higher. The analysts estimated that half of Thailand's e-commerce GMV was already made up of social commerce in 2020, as was 38 . In this report, we explore the drivers of growth in Vietnam's retail sector, and take a look at MARKET LANDSCAPE • Traditional Trade is still key channel with 1.5M stores, contributing to 87% of FMCG • Modern Trade is booming with store expansion and higher consumer penetration E-COMMERCE • Vietnam has strong foundation for E-commerce to take off with high internet and smartphone penetration • Still humble, ~1% FMCG, growing 30+% Vietnam's evolution as an attractive destination for foreign investors 2. Vietnam e-commerce, though small in size, is among top growing e-commerce markets globally. However, a great e-commerce strategy does not guarantee success. The value of Vietnam's e-commerce market has increased by at least a quarter every year since 2017. By Nhat Duy Nguyen Henceforth, the market size has grown to 4.4 trillion dong (US $189.8 million) - approximately 18% growth in terms of cumulated revenue, in which the number one position belongs to Family mart, Circle K and B's Mart with 21.4%, 20.7%, and 9.6% market share respectively. Detailed information about political and social topics . With fierce competition between local and foreign companies, both in traditional retail and e-commerce, here is some information to navigate the market and understand fashion buyers' consumer behaviors. Medium to long term growth story of BNPL industry in Vietnam remains strong. Mobile connections in Vietnam. Data was collected in July 2019. Reporting from Boston Consulting Group (BCG) in 2013 showed that Vietnam had the fastest-growing . The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 38.1% during 2021-2028. Internet Economy Market Size, in USD billion, by Sector, 2015, 2018e . E-Commerce, Online Media, Online Travel, Transport & Food, 2015, 2019, 2020e & 2025f E-Commerce Gross Merchandise Value, in USD . Shopee has the highest ranking in both mobile shopping apps and transactional websites. However, the market is set to recover and hit $672.71 billion by 2023. Vietnam Online Entertainment & Services booking market has attained small but significant growth in overall e-commerce market. Indeed, the rise of e-commerce and digital retail channels in Vietnam is one of the top trends to watch: by 2025, Vietnam's e-commerce market size is expected to be second only to Indonesia in the Southeast Asia region. The global fashion ecommerce industry was expected to decline from $531.25 billion in 2019 to $485.62 billion in 2020. Lazada puts pedal to the metal in e-commerce revolution. The average ecommerce revenue per user is still relatively low, though. The Map of E-commerce in Vietnam report published by Iprice Insight, ranks the top 50 Vietnam e-commerce market players based on their average quarterly traffic, mobile application ranking, social media followers and number of staff, using data collected in July. The company's Digital Market Outlook (DMO) study found that almost 50 million people in Vietnam bought consumer goods online in 2018, spending a combined USD $2.2 billion.. E-Commerce, Online Media, Online Travel, Transport & Food, 2015, 2019, 2020e & 2025f E-Commerce Gross Merchandise Value, in USD . As cited in this report, the most popular E-Commerce websites in the country were Shopee, Tiki and Alibaba-supported Lazada, which had been the leader . Vietnamese consumer: Underlying the demand for education in Vietnam is a rapidly emerging middle class. The Vietnamese eCommerce market is worth an estimated $173 billion, of which B2C eCommerce businesses selling physical goods, account for about 3.4% or $6 billion. The government's five-year transformation strategy aims to have over half of the 96 million population shopping online by 2025 - a trend only accelerated by the pandemic. COVID-19 has resulted in social distancing across Vietnam, isolating people in . Shares ranged from around a quarter in Indonesia to two thirds in Vietnam. Hai Yen. The negative compound annual growth rate (CAGR) of -8.59% is largely due to the coronavirus pandemic. Market size has doubled. It is a facility for international and . In 2019, the number of convenience stores in the country reached 1,289, this was an increase of 101 shops compared to 2018. Dublin, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The "Vietnam Express Delivery Services Market by Application, End Use, and Destination: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering. In this context, e-commerce player Lazada Vietnam is stepping up its game to catch up with the trends. Market research company Statista recently published a report about the eCommerce industry analytics in Vietnam. The growing Vietnam market, increase in income level, stable political conditions, high quality and inexpensive labor force, drastic change in fashion industry and conducive business environment are significant factors to enter into the Vietnam . Vietnam's fast-growing retail market A fast-growing retail market in the region Modern trade penetration: Potential for growth E-commerce penetration on the rise Key trends to watch: Focus on brands, shift to modern retail formats, consolidation of key players 3. Vietnam B2C E-Commerce Market 2019 Vietnam B2C E-Commerce Market 2019 New report from yStats.com suggests continued expansion of online retail in Vietnam - Market research report and industry analysis - 12601930 . Detailed segmentation of international and local products. 2018.3 By 2025, e-commerce is predicted to be worth US$102 billion - making up more than 40 per cent of the total value of the region's internet economy. MARKET LANDSCAPE • Traditional Trade is still key channel with 1.5M stores, contributing to 87% of FMCG • Modern Trade is booming with store expansion and higher consumer penetration E-COMMERCE • Vietnam has strong foundation for E-commerce to take off with high internet and smartphone penetration • Still humble, ~1% FMCG, growing 30+% Social commerce, especially through Facebook and Facebook Messenger, has also been found to drive the adoption of e-wallet payments 19 in the Philippines, according to a report by PayPal. According to the Department of E-Commerce and Digital Economy under the Ministry of Industry and Trade, Vietnam's e-commerce in 2020 increased by 18% - the highest level in the region. Vietnam's retail market has grown with a CAGR of 12.73% over the past decade, driven by an increasing wealth and disposable income, as well as a growing population. Up to 91 percent of the new users in Vietnam said they would continue using e-commerce platforms, even after the pandemic. The concept of online entertainment has become prevalent since the rise in internet penetration in Vietnam, owing to the emergence of various websites offering online booking of movie and event tickets as well as . This report offers latest trends, growth factors, top players etc. The E-commerce in Vietnam report is divided into six sections, including the overview of eCommerce in Southeast Asia and Vietnam from 2015 to 2020, business-to-consumer (B2C), the leading e-commerce brands, categories, and consumer behavior the impact of COVID-19 on the eCommerce . Vietnam social commerce market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in Vietnam market. Kirin's functional food brand, iMUSE has ventured into its first overseas market with the launch of a functional probiotic beverage in Vietnam. Data was collected in July 2019. Fueled by the growing middle class, the fashion and garment industries are booming in Vietnam. According to a recent report published by Allied Market Research, titled, "Vietnam Mobile Payment Market by Type, Mode of Transaction, End User, Application, and Type of Purchase: Opportunity Analysis and Industry Forecast, 2020-2027," the Vietnam mobile payment market size was valued at $250 billion in 2019, and projected to reach $2,732 billion by 2027, growing at a CAGR of 30.2% from . Vietnam's e-commerce market size is expected to be US$3,385 Million in 2020. The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, technological factors, key trends, and future prospects Vietnam is growing in global competitiveness ranking up 5 places in 2017 from 2016 and now number 6 for top developing countries for retail investment. Broad-based shift towards e-commerce 08 Segment analysis 09 Traditional grocery retailers 09 . Vietnam B2C E-Commerce Market Overview, February 2021Value of B2C E-Commerce, in VND trillion, and Year-on-Year Change, in %, 2019 - 2024fTop 10 E-Commerce Websites of Vietnam, by Number of . The recent expansion of online retail in Vietnam attracts the attention of merchants prepared to capture a share of the market. Download the Southeast Asia's cross-border e-commerce market report (2018-23) now. Sales of groceries through e-commerce platforms grew by 30% in the 12 months to March 2017, according to the report "The Future of E-commerce in FMCG" by Kantar Worldpanel, published today. 38 The government of the Philippines has also been ramping up efforts to help its unbanked and underbanked population. Social and M-Commerce contribute to B2C E-Commerce growth . Social media penetration in Vietnam stood at 67% in January 2020. Some key elements are natural barriers of the Modern Trade development in Vietnam. Shopee (Tencent backed), Lazada (with 83% shares belongs to Alibaba Group), Tiki, and Sendo are the most popular e-commerce platforms in Vietnam. The Vietnam E-commerce White Paper 2021 by the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) informed that the percentage of people using the Internet, the number of consumers shopping online and B2C e-commerce revenue have increased sharply and continuously in the past 5 years. Content. Some key drivers of e-commerce Internet Economy Market Size, in USD billion, by Sector, 2015, 2018e & 2025f Retail E-Commerce Sales, in USD billion, 2018 & 2023f E-Commerce Share of Retail Sales, in %, 2019f The Map of E-Commerce ranks Vietnam's top 50 e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers and number of staff. Market size reached $11.8 billion, accounting for about 5.5% of total retail sales of consumer goods and services nationwide. In 2015, eCommerce in Vietnam was worth $4 billion, but it is expected to rise 20 percent per year to reach US$10 billion by 2020, according to Vietnam E-Commerce Association. Vietnam Express Delivery Services Market by Application (B2B and B2C), End Use (E-Commerce Platform, Social Media Platform, Document Service, and Others), and Destination (Domestic and International): Opportunity Analysis and Industry Forecast, 2020-2027 Moreover, increasing consumer preference toward faster delivery of goods has made express delivery services a key differentiator among larger e-commerce players as well as emerging startups. The BNPL Gross Merchandise Value in the country will increase from US$ 207.0 million in 2020 to reach US$ 4738.5 million by 2028. In Vietnam, national legislations that restrict infant formula promotion has been passed down in recent years. . 18 months ago, Dung Dang Anh decided to join Lazada Vietnam, the national arm of Lazada Group, an e . Southeast Asia Cross Border E Commerce Market is expected to reach USD 12 billion in 2023, at a CAGR of 14.5%. The market size of Vietnam's B2C E-commerce was US$6.2 billion in 2017 and is forecast to continue rising rapidly in the upcoming years. By 2025, Vietnam's e-commerce market size is expected to be second only to Indonesia in Southeast Asia. VIETNAM RETAIL SECTOR Market research report provides a in-depth study of industry plyers, market growth, size, share, challenges, standardization, deployment models, trends and cost structure . In this report, we explore the drivers of growth in Vietnam's retail sector, and take a look at The market. Boom in e-commerce as pandemic keeps consumers indoors. This has translated into a strong market for private institutions and vocational schools and services. In this coronavirus context, Vietnam's e-commerce has achieved impressive growth of 18 percent as the market size has reached US$11.8 billion, accounting for around 5.5 percent of the national retail sales of consumer . Vietnam is considered to be one of the fastest growing eCommerce marketplaces in Southeast Asia with an average annual . E-Commerce Market Size Research - Industry Share 2021: Covid-19 Market Scenario, SWOT Analysis, Production and Consumption by Regions, Development Factors and Global Growth Forecast to 2026 . Express delivery service is a quick parcel delivery service for which the customer pays a considerable amount. Due to national lockdown and ongoing social distancing, many more consumers were doing their shopping online. There were 145.8 million mobile . According to the Ministry of Economy, Trade and Industry's "Development of Infrastructure for Data-Driven Society in Japan in 2018 (Market Survey on Electronic Commerce)" released on May 16, 2018, the e-commerce market has been expanding steadily. Drivers for Vietnam's education sector. Q&Me is online market research provided by Asia Plus Inc. Vietnam EC market 2020 Asia Plus Inc. 2. • The report provides a qualitative and quantitative analysis of the current Vietnam Mobile Payment Market trends, forecasts, and market size from 2021 to 2027 to determine new opportunities. ; Facebook maintains a significant share, particularly amongst older users, while across all age groups there has been an increase in confidence when it comes to buying from brands' official websites. 8. Việt Nam's e-commerce market is predicted to boom in the near future, given that 53 per cent of the population uses the internet and nearly 54 million people use smartphones. Growth is expected to continue at a compound annual growth rate (CAGR) of 7.7 percent to 2023. Among the categories of retailing, grocery and electronic appliance are the largest categories in Vietnam, accounting for more than half of the total retail sales in the country . This growth is motivated by increasing internet access, a relatively young population, and an expanding number of local businesses opting for e-commerce as a distribution channel.
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